STAMP DUTIES ACT 1923 - SECT 71DC
STAMP DUTIES ACT 1923 - SECT 71DC
71DC—Concessional duty on designated real property transfers
"qualifying land" means land that is being used for any purpose other
than—
(a) land
that is taken to be used for residential purposes in accordance with
subsection (2)(a), other than land of a classification excluded by the
regulations; or
(b) land
that is taken to be used for primary production in accordance with
subsection (2)(b), other than land of a classification excluded by the
regulations.
(2) For the
purposes of the definition of "qualifying land"—
(a) land
will be taken to be used for residential purposes if—
(i)
the Commissioner, after taking into account information
provided by the Valuer-General, determines that it is being predominantly used
for that purpose; or
(ii)
the Commissioner, after taking into account information
provided by the Valuer-General, determines that although the land is not being
used for any particular purpose at the relevant time the land should be taken
to be used for residential purposes due to improvements that are residential
in character having been made to the land; or
(iii)
the Commissioner, after taking into account information
provided by the Valuer-General, determines that the land is vacant, or vacant
with only minor improvements, that the land is within a zone established by a
Development Plan under the Development Act 1993 that envisages the use,
or potential use, of the land as residential, and that the land should be
taken to be used for residential purposes due to that zoning (subject to the
qualification that if the zoning of the land indicates that the land could, in
a manner consistent with the Development Plan, be used for some other purpose
(other than for primary production) then the vacant land will not be taken to
be used for residential purposes); and
(b) land
will be taken to be used for primary production if—
(i)
the Commissioner, after taking into account information
provided by the Valuer-General, determines that it is being predominantly used
for primary production purposes; or
(ii)
the Commissioner, after taking into account information
provided by the Valuer-General, determines that although the land is not being
used at the relevant time the land should be taken to be used for primary
production purposes due to a classification that has been assigned to the land
by the Valuer-General.
(3) For the purposes
of subsections (1) and (2), the date that is relevant to a determination
as to whether land is qualifying land is the date of the relevant conveyance
or transfer.
(4) Subject to
subsections (5) and (7), subsection (6) applies to the conveyance or
transfer of an interest in qualifying land executed on or after 7 December
2015.
(5)
Subsection (6) does not apply to a conveyance or transfer of an interest
that arises from a contract of sale or other transaction entered into before 7
December 2015.
(6) The duty payable
on a conveyance or transfer to which this subsection applies (to the extent to
which it provides for the conveyance or transfer of an interest in
qualifying land) will be 66⅔% of the amount of duty payable apart from
this subsection.
(7) Subject to
subsection (8), subsection (9) applies to the conveyance or transfer
of an interest in qualifying land executed on or after 1 July 2017.
(8)
Subsection (9) does not apply to a conveyance or transfer of an interest
that arises from a contract of sale or other transaction entered into before
1 July 2017.
(9) The duty payable
on a conveyance or transfer to which this subsection applies (to the extent to
which it provides for the conveyance or transfer of an interest in
qualifying land) will be 33⅓% of the amount of duty payable apart from
subsection (6) or this subsection.